Team New Zealand Hopeful For 2014 Due To Reported Talks With Spanish Insurer MAPFRE

Team New Zealand's hopes of "having a boat in this year's around the world race remain afloat with a deal being brokered with a Spanish partner," according to FAIRFAX NZ NEWS. European media "have speculated" that Team New Zealand Managing Dir Grant Dalton's fundraising venture there over the past three weeks has "netted a deal with Spain's Pedro Campos, another veteran of the Volvo Ocean Race." Dalton suggested the reports were "more speculative than reality but confirmed there had been significant progress." He added that there was "still some way to go" to raise the NZ$30M ($24.9M) "required to be competitive." European media "are suggesting large Spanish insurance company MAPFRE are coming to the party." MAPFRE sponsors Rafael Nadal and has a "history of sponsoring sailing in Spain" (FAIRFAX NZ NEWS, 2/26).